Cloud DX Signs Fourth Paramedicine Provider; contracts signed have increased 142% YoY

Rhea-AI Summary

Cloud DX (TSXV:CDX) (OTC:CDXFF) announced its fourth Emergency Medicine Services (EMS) contract in 2022, partnering with an Ontario County paramedic service to implement its Connected Health platform for Remote Patient Monitoring, aimed at enhancing population health and alleviating hospital burdens. This initiative, funded by the Paramedicine for Long-Term Care program, marks a significant growth, with 17 contracts signed in 2022, up 142% from 2021. The platform facilitates patient health management, reducing emergency room visits and improving overall patient outcomes.

Positive

• Signed 17 contracts or contract extensions in 2022, a 142% increase from 2021.
• New EMS contract will enhance healthcare delivery and patient monitoring.
• Remote Patient Monitoring aids in reducing hospital admissions and emergency room visits.

Negative

• None.

Fourth Emergency Medicine Services (EMS) contract in 2022 as more EMS choose the Cloud DX Virtual Care Platform

KITCHENER, ON / ACCESSWIRE / June 8, 2022 / Cloud DX (TSXV:CDX) (OTC:CDXFF), a leading Virtual Care platform, announced a new contract with a fourth Paramedic Service Provider. An Ontario County paramedic service selected the company's Connected Health™ platform to introduce Remote Patient Monitoring to the community in order to improve population health, patient outcomes, and alleviate burdens on its hospital system. Using funding from the Paramedicine for Long-Term Care program, the County will launch the program in June 2022. Cloud DX has signed 17 contracts or contract extensions so far in 2022, exceeding the total number of contracts signed in 2021 by 142%.

Cloud DX's Connected Health™ kit works, right out of the box. The kit includes a tablet and biometric vital sign devices to record patient health data and readings such as heart rate, temperature, weight, and blood pressure. Patients can record symptoms and answer health surveys right in the app, and then conduct a secure telehealth visit in a seamless environment. Once the kit is in the patient's hands, the EMS team or Cloud DX's support team walks patients through unboxing the equipment, logging in, taking readings, and will schedule follow-up to ensure users are comfortable with the equipment and platform.

The Cloud DX system creates a self-management environment. From the start, patients are in the loop about their health. Cloud DX notifications work to manage the vital sign data flow and if readings exceed pre-set thresholds created by the care team, the patient and the community paramedic team can be notified. This functionality minimizes false alarms while closely monitoring patient conditions.

Community Paramedics see the value of remote patient monitoring for homebound patients awaiting long-term care accommodations, the chronically ill, and/or post-surgical care patients. By keeping tabs on patients this way, EMS providers can intervene earlier to change behavior, send a home-care nurse to make a house call, or dispatch ambulances earlier. The result, in published peer-reviewed studies, is that patients use the emergency room less, are admitted into hospital less, live at home longer, and feel more in control of their health.

"At home remote monitoring is critical to improving the health of vulnerable populations such as community members with chronic conditions or seniors who wish to live independently for as long as possible," says Anthony Kaul, Cloud DX COO and co-founder.

Read more about Community Paramedicine is using Remote Patient Monitoring here.

About Cloud DX

Accelerating virtual healthcare, Cloud DX is on a mission to make healthcare better for everyone. Our Connected Health TM remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care in the home. Our partners achieve better healthcare and patient outcomes, reduce the need for hospitalization or re-admission, and reduce healthcare delivery costs through more efficient use of resources. Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and was named a "New Innovator 2022" by Canadian Business magazine. Cloud DX is an exclusive virtual care partner to Medtronic Canada and Equitable Life.

Cloud DX Investor Site https://ir.clouddx.com/overview/default.aspx

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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For media inquiries please contact:

Janine Scott
Marketing Lead
888-543-0944
janine.scott@CloudDX.com

For investor inquiries please contact:

Jay Bedard
Cloud DX Investor Relations
647-881-8418
jay.bedard@CloudDX.com

SOURCE: Cloud DX Inc.

View source version on accesswire.com:
https://www.accesswire.com/704371/Cloud-DX-Signs-Fourth-Paramedicine-Provider-contracts-signed-have-increased-142-YoY

FAQ

What recent contract did Cloud DX announce related to EMS?

Cloud DX announced its fourth EMS contract in 2022 with an Ontario County paramedic service to implement Remote Patient Monitoring.

How many contracts has Cloud DX signed in 2022?

Cloud DX has signed 17 contracts or contract extensions in 2022, a 142% increase from 2021.

What platform is being used for Remote Patient Monitoring by Cloud DX?

Cloud DX is utilizing its Connected Health platform for Remote Patient Monitoring.

What funding is supporting Cloud DX's new EMS program?

The new EMS program is funded through the Paramedicine for Long-Term Care program.

How does Cloud DX's system impact patient hospital visits?

The system is designed to reduce emergency room visits and hospital admissions by enabling better home monitoring of patients.